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Completed the widely-spaced Yellow Rose package, which is outperforming a directly offset tightly-spaced package by 30% based on cumulative oil production per foot
Produced a Company record 30,447 barrels of oil per day ("BOPD"), exceeding oil production guidance by 7% or almost 2,000 BOPD
Reduced amount outstanding on the Company's credit facility by $35.0 million, lowering Net Debt to Adjusted EBITDA to 1.7 timesa
Received net cash payments of $15.8 million on settlements of derivatives as the Company's hedges mitigated the impact of commodity price declines
Reduced controllable cash costs of combined unit lease operating expenses ("LOE") and unit cash general and administrative expenses ("G&A") to $4.69 per barrel of oil equivalent ("BOE"), a 23% decrease from full-year 2018 results of $6.07 per BOE
The following information was filed by Laredo Petroleum, Inc. (LPI) on Wednesday, July 31, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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